All Forum Posts by: Kevin McCafferty

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $270,000
Cash invested: $180,000
Sale price: $550,000

Full gut rehab. We added on a lower level master bedroom, walk-in closet and bath along with a laundry room. We lofted the ceilings and rebuilt the deck, new roof, skylights, electrical, plumbing, kitchens, baths. -

What made you interested in investing in this type of deal?

I lived in the neighborhood so it was easy to control.

How did you find this deal and how did you negotiate it?

Talking with neighbors and asked what they felt was a fair price.

How did you finance this deal?

Half cash half bank construction loans

How did you add value to the deal?

I managed all aspects of the buy, build and resale to make it an easy 1 stop shop for my investors.

What was the outcome?

Great, homes sold quickly and set a record in that neighborhood.

Lessons learned? Challenges?

Don't over do things!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not on this deal

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $420,000
Cash invested: $550,000
Sale price: $1,280,000

Full gut rehab and redesign. Converted into 2 condo's. 

What made you interested in investing in this type of deal?

Hot market and it was the worst property on the street huge potential for a condo conversion of 2 large private townhouses.

How did you find this deal and how did you negotiate it?

While searching for other on market deals I spoke with an investment firm that held other off market properties and this was one of them.

How did you finance this deal?

Half cash half bank construction loans

How did you add value to the deal?

We restored as many of the original features of the 1800 home and then we added the best of the best for everything. We added a huge 30 X 30 deck, 2 garages, 3rd floor to the entire property. Reconstructed the yard and parking. Fenced in the yard and much more!

What was the outcome?

We set records on that street and in that area selling them off!

Lessons learned? Challenges?

Biggest lesson learned was hire the right people first and get it done quicker!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not on this transaction.